Ellomay Capital Announces a One-for-Ten Reverse Split

TEL AVIV, Israel, June 2, 2011 /PRNewswire-FirstCall/ -- Ellomay Capital
Ltd. (EMYCF.PK) ("Ellomay" or the "Company"), announced today that a
one-for-ten reverse split of its outstanding ordinary shares will become
effective on Thursday, June 9, 2011.

After the reverse split, the number of the Company's authorized ordinary
shares will decrease from 170,000,000 to 17,000,000, the number of
outstanding ordinary shares is expected to decrease from 107,778,493 to
approximately 10,777,850 (subject to a final calculation reflecting the
rounding of fractional shares) and the par value per ordinary share will
increase from NIS 1.00 to NIS 10.00. All fractional shares resulting from the
reverse split that are one-half share or more will be increased to the next
higher whole number of shares and all fractional shares that are less than
one-half share will be decreased to the next lower whole number of shares.

The reverse share split is intended to increase the per share trading
price of the Company's ordinary shares as part of the Company's efforts to
qualify for the listing of its ordinary shares on NYSE Amex exchange. In that
regard, the Company is currently undergoing an eligibility review at the NYSE
Amex and believes that the listing of its ordinary shares on the NYSE Amex
exchange would provide it with greater access to public capital markets and
could increase the liquidity and trading volume of its ordinary shares.

About Ellomay Capital

Ellomay Capital Ltd. is an Israeli company that invests in the energy and
infrastructure fields, primarily in Italy and in Israel. The Company's
investments include several photovoltaic plants, located in the Marche and
Puglia Regions in Italy, holdings in the Dorad power plant located in
Ashkelon, Israel and rights in several gas and oil exploration licenses in
the Mediterranean sea.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve
substantial risks and uncertainties. All statements, other than statements of
historical facts, included in this press release regarding our plans and
objectives of management are forward-looking statements. The use of certain
words, including the words "estimate," "project," "intend," "expect,"
"believe" and similar expressions are intended to identify forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. We may not actually achieve the plans, intentions or expectations
disclosed in our forward-looking statements and you should not place undue
reliance on our forward-looking statements. Various important factors could
cause actual results or events to differ materially from those that may be
expressed or implied by our forward-looking statements, including changes in
the price of ordinary shares following the reverse split and results of
discussions with regulated trading markets. These and other risks and
uncertainties associated with our business are described in greater detail in
the filings we make from time to time with Securities and Exchange
Commission, including our Annual Report on Form 20-F. The forward-looking
statements are made as of this date and the Company does not undertake any
obligation to update any forward-looking statements, whether as a result of
new information, future events or otherwise.